The European Commission has referred the United Kingdom to the EU Court of Justice (ECJ) for its tax legislation on cross-border loss relief. The Commission considers that the UK has failed to properly implement the ECJ\'s previous "Marks & Spencer" ruling on this matter.
In 2005, the Court ruled that a parent company should not be prevented from deducting the losses of its subsidiary established in another member state, if all other possibilities have been exhausted. Although the UK amended its legislation after the judgement, it continues to impose conditions on cross-border group loss relief which, in pract...
UK 's tax legislation on cross-border loss relief to face European Court of Justice
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